As a business owner, the difference between surviving and thriving is having customers that don’t just buy from you, but genuinely love and advocate for your brand. You don’t need an MBA or cutting-edge technologies to do this. The secret is simplifying what you do into 4 universal principles and continuously getting better at them. These principles, or “The Big 4” as I’ll call them, are the key to building brands that people love. Once you see them, you’ll start to recognize them in businesses that you love, and you’ll be able to master them in your own business.
1. Be Worth More Than You Cost
Think of your favorite business – the one you can’t stop raving about. Chances are, they give you a lot for what you pay, making you feel happy about buying from them. You might even like telling people about your purchase. This principle isn’t about charging less or losing money; it’s about making your customer feel they’re getting incredible value. You can still make tons of money while being worth more than you cost. How?
Profit margin is about the gap between your selling price and your costs. However, value is measured differently. It’s the gap between the quality and reliability of what customers receive from you, and the effort and time they invest to get it. In simple terms, you want to make the good things bigger and the bad things smaller. The bigger you can make this gap, the more excited and loyal your customers will be.
2. Engage with More People than You Sell To.
Most of the world will never know who you are or what your business is. You’ll get the chance to talk to and engage with some people, and even fewer of them will ever give you money.
Think again about the business that you adore. Maybe you follow them on social media. Even when you aren’t buying from them, they make you smile or laugh, or they teach you something that you share with your friends. Great brands provide value for free, and they do it for people that may never buy from them.
Aim to leave everyone better than you found them, whether or not they open their wallets. Give whenever you can and you will build a community that roots for you.
3. Embody the High-Five
If you haven’t given someone a high-five recently, go do it and notice how you feel. This is how sales should feel in your business. Not just a transaction, but a vote of confidence, an “I believe in you.” Both parties feel excited about it. Every time someone chooses your product or service, they’re essentially saying, “You’re awesome!” Treat each sale as a precious high-five, a token of trust and support. Celebrate these moments of connection and gratitude.
4. Consistently Do What You Say You’ll Do
Consistency is king. Think about the predictably great experience at your favorite restaurant. They might not surprise you with grand gestures, but they deliver what they promise, every single time. That reliability builds trust and loyalty. So, focus on fulfilling your commitments. Surprises are nice, but consistency is what will make your customers feel secure and make them recommend you to their friends.
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By focusing on The Big 4, you’re no longer just running a business; you’re creating a beloved brand. I hope you find these principles as helpful as I have and that I get to buy from you someday.
Thanks,
Mike Misbach
